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Mittwoch, 11.01.2017 23:10 von PR Newswire | Aufrufe: 154

Silver Standard Reports Fourth Quarter 2016 Production Results and 2017 Guidance

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PR Newswire

VANCOUVER, Jan. 11, 2017

VANCOUVER, Jan. 11, 2017 /PRNewswire/ - Silver Standard Resources Inc. (NASDAQ: SSRI) (TSX: SSO) ("Silver Standard") reports its fourth quarter and full year 2016 operating results. Additionally, we are providing 2017 production and cost guidance for our three operations.

Fourth Quarter and 2016 Operating Highlights:

Consistent record of delivery: Achieved production guidance for the fifth consecutive year.
Record annual production: Produced 393,325 gold equivalent ounces in 2016 as all three operations met or exceeded previously improved production guidance. During the fourth quarter, gold equivalent production totaled 110,130 ounces.
Robust gold production at Marigold: Production in the fourth quarter was strongest for the year at 59,945 ounces of gold, taking full year production to 205,116 ounces.
Exceeded gold production guidance at Seabee: The mine achieved the highest annual production in its 26-year history, producing 77,640 ounces of gold in 2016. With fourth quarter production of 19,711 ounces of gold, production over the second half of the year exceeded our H2 2016 production guidance range.
Record annual silver production at Pirquitas: The mine concluded a successful year with fourth quarter production of 2.2 million ounces of silver, taking annual production to a record 10.4 million ounces of silver in 2016.

Paul Benson, President and CEO said, "Our production results continue to demonstrate the strength of our operating portfolio, following the successful acquisition of the Seabee Gold Operation earlier this year. I commend our mines and their respective teams for delivering to or exceeding their operating plans. Our fourth quarter production of over 110,000 gold equivalent ounces is a strong finish to a very successful year. These results are underpinned by our operational excellence program, commitment to safe production and strong balance sheet positioning us to continue creating shareholder value in 2017."

Marigold mine, U.S.

Q4 2016

Q3 2016

% Change ¹

ARIVA.DE Börsen-Geflüster

Kurse

SSR Mining

5,152 €

+0,19%

FY 2016

FY 2015

% Change ¹

Total material mined

19,559

19,558

0.0%

75,093

74,592

0.7%

Waste removed

13,123

14,741

(11.0%)

51,480

54,054

(4.8%)

Ore to leach pad

6,436

4,817

33.6%

23,613

20,538

15.0%

Strip ratio

w/o

2.0

3.1

(35.5%)

2.2

2.6

(15.4%)

Gold grade to leach pad

g/t

0.48

0.42

14.3%

0.45

0.0%

Gold recovery

75%

71%

5.6%

72%

71%

1.4%

Gold produced

59,945

47,456

26.3%

205,116

207,006

(0.9%)

Gold sold

61,308

47,278

29.7%

204,315

206,338

(1.0%)

Notes:

1. Percent changes are calculated using rounded numbers presented in the table.

In 2016, the Marigold mine produced 205,116 ounces, compared to 207,006 ounces of gold produced in 2015, achieving the mid-point of our improved 2016 production guidance. Gold sales were 204,315 ounces for the year.

Total material mined and ore stacked on leach pads of 75.1 million tonnes and 23.6 million tonnes, respectively, in 2016, were record amounts for the Marigold mine, due to the increased hauling capacity added to the fleet earlier in the year.

In the fourth quarter of 2016, Marigold produced 59,945 ounces of gold, 26% higher than the previous quarter as expected, due to higher grade ore tonnes sourced from the deeper benches of the current Mackay pit phase during the third and fourth quarters of 2016. Higher grade ore was placed on the new leach pad, completed in the third quarter of 2016, which assisted in accelerated gold recovery. Gold sales totaled 61,308 ounces for the quarter.

A total of 19.6 million tonnes of material were mined in the fourth quarter of 2016, in line with material mined in the third quarter. Approximately 6.4 million tonnes of ore were delivered to the heap leach pads at a gold grade of 0.48 g/t, containing approximately 75,000 recoverable ounces of gold stacked during the quarter. This compares to 4.8 million tonnes of ore delivered to the heap leach pads at a gold grade of 0.42 g/t in the third quarter of 2016, containing approximately 47,000 recoverable ounces of gold. Gold grade mined in the fourth quarter was 14% higher than the third quarter. The strip ratio declined to 2.0:1 in the quarter, a 36% reduction compared to the previous quarter.

Seabee Gold Operation, Canada

Q4 2016

Q3 2016

% Change ¹

Period from
Acquisition to
December 31, 2016 ²

2016 ³

Total ore milled

84,526

82,756

2.1%

186,138

312,679

Ore milled per day

t/day

919

900

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